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Topgolf-New-Braunfels
DevelopmentRetailTexas

Topgolf to Open 35,000 SF Entertainment Venue in New Braunfels, Texas

by Taylor Williams

NEW BRAUNFELS, TEXAS — Topgolf will open a 35,000-square-foot venue in New Braunfels, a northeastern suburb of San Antonio. The two-story facility will be located within the 400-acre New Braunfels Town Center at Creekside master-planned development and will feature 62 climate-controlled hitting bays in addition to a full bar and restaurant. Construction is underway, and completion is scheduled for late 2025. The Dallas-based sports entertainment company, which currently operates more than 100 venues around the world, expects to hire about 200 people to staff the new facility.

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Park-Lane-Senior-Apartments
DevelopmentMultifamilyNew YorkNortheastSeniors Housing

Asland Capital, Pembroke Residential Complete 154-Unit Seniors Housing Project in The Bronx

by Taylor Williams

NEW YORK CITY — A partnership between multifamily owner-operator Asland Capital Partners and locally based investment firm Pembroke Residential Holdings has completed Park Lane Senior Apartments in The Bronx. The 154-unit, age-restricted development is located in the borough’s Soundview neighborhood, and about a third (53) of the residences are reserved for households earning 50 percent or less of the area median income. In addition, 30 percent of the units are set aside for seniors who were formerly homeless. Amenities include a tenant lounge and indoor/outdoor recreational spaces.

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DevelopmentIndustrialNew YorkNortheast

Robert Martin Co. Breaks Ground on 71,098 SF Industrial Flex Project in Hawthorne, New York

by Taylor Williams

HAWTHORNE, N.Y. — Locally based developer Robert Martin Co. has broken ground on a 71,098-square-foot industrial flex project in Hawthorne, located north of New York City in Westchester County. The site at 14-16 Skyline Drive is located within Mid-Westchester Executive Park, and the development will consist of two buildings totaling 34,738 and 36,360 square feet. Completion is scheduled for the third quarter of 2025.

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Affordable HousingDevelopmentIowaMidwestMultifamily

Woda Cooper Breaks Ground on 40-Unit Affordable Housing Community in Des Moines

by Kristin Harlow

DES MOINES, IOWA — Woda Cooper Cos. Inc. has broken ground on Alley Landing, a 40-unit affordable housing community in Des Moines. The property at 2701 Douglas Ave. will feature one-, two- and three-bedroom units for residents earning up 60 percent of the area median income. Eight units will be set aside as Permanent Supportive Housing (PSH), with rental assistance for households experiencing homelessness, with a veteran priority. Amenities will include a multipurpose room with kitchenette, manager’s office, supportive services office, dog park and playground. The City of Des Moines provided a HOME loan, an American Rescue Plan Act loan and housing vouchers to provide rental assistance for the PSH units. The Iowa Finance Authority provided a second HOME loan and allocated housing tax credits. Bank of America is providing a construction loan and an equity investment in exchange for the tax credits. Cedar Rapids Bank & Trust is providing the first permanent mortgage. Families Forward will provide supportive services for the PSH units. Amvets Post #2 and the local VA Community Resource & Referral Center will provide housing referrals for veterans experiencing homelessness. Hooker DeJong Inc. is the project architect, and Woda Construction Inc. is the general contractor. Woda …

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DevelopmentHealthcareSoutheastVirginia

Capital Growth Medvest Breaks Ground on $105M Healthcare Project in Lynchburg, Virginia

by John Nelson

LYNCHBURG, VA. — Capital Growth Medvest has broken ground on a $105 million healthcare project in Lynchburg, a city in central Virginia at the foothills of the Blue Ridge Mountains. The project comprises two adjacent outpatient hospitals: Centra Rehabilitation Hospital (50 beds, 62,500 square feet) and Centra Behavioral Health Hospital (72 beds, 61,000 square feet). JE Dunn Capital Partners and Sila Realty Trust are capital partners on the project, and Carter Bank is providing senior construction financing. Operating partners on the project include Centra Health, LifePoint Rehabilitation and Lifepoint Behavioral Health, both of which are affiliates of LifePoint Health. The two Lynchburg projects represent Capital Growth Medvest’s sixth and seventh development partnerships with Lifepoint across six states. JE Dunn is serving as the general contractor for both hospitals, and Earl Swensson Associates and Stengel Hill Associates are the architects for the rehabilitation and behavioral health hospitals, respectively. Both facilities are slated for completion in late 2025.

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Bahia-Mar-Pool
DevelopmentFloridaMixed-UseSoutheastTop Stories

Joint Venture Unveils Plans for $2B Waterfront Mixed-Use Development in Fort Lauderdale, Florida

by Katie Sloan

FORT LAUDERDALE, FLA. — A joint venture between Related Group, Tate Capital and Rok Acquisitions has unveiled plans for Bahia Mar, a $2 billion waterfront mixed-use development located in Fort Lauderdale. The joint venture is developing the 40-acre project in collaboration with Marriott International. Bahia Mar will be anchored by two 23-story condominium towers and a 197-room luxury hotel, all operating under the St. Regis brand.   Condominiums will be offered in three- and four-bedroom configurations ranging from 2,600 to 3,550 square feet, in addition to penthouse residences across both the condominium towers and a portion of the hotel. Units will feature a private elevator foyer and sweeping views of the Atlantic Ocean.  Shared amenities in the condo towers will include a spa with steam rooms, saunas, hot and cold plunges, treatment rooms and a wellness terrace; a salon offering beauty services; an indoor/outdoor fitness center; a children’s entertainment room; library/media room; private dining and billiards rooms; and outdoor terraces with summer kitchens, a private outdoor pool, pickleball court and a multisport simulator.  The resort will also feature amenities including two pools, a fitness center, spa, outdoor amenity spaces and a signature restaurant, all of which will be available to condo …

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ArizonaCivicDevelopmentLoansRetailWestern

BWE Secures $425M in Construction Financing for Mosaic Quarter Sports Complex in Tucson

by Amy Works

TUCSON, ARIZ. — BWE has secured a $425 million credit-tenant lease to provide construction financing for Phase I of Mosaic Quarter, a planned sports destination spanning 90 acres and 1 million square feet in Tucson. Brian Boland of BWE originated the credit-tenant lease financing from CTL Capital on behalf of Mosaic Quarter Development LLC, an affiliate of Knott Development. The property was underwritten based on the credit of Pima County, Ariz., the future lessee, enabling the borrower to secure more favorable terms with higher leverage due to the property’s guaranteed future cash flow over the term of the 30-year lease. Mosaic Quarter’s Phase I will feature the 137,000-square-foot MQ Field House, the 200,000-square-foot MQ Iceplex, a central utility plant and onsite civil and sitework improvements, as well as offsite infrastructure improvements necessary to support the larger project, including parking. MQ Field House will include interchangeable wood, turf and specialty flooring systems on two floors of athletic space, including eight basketball courts, six volleyball courts, four indoor soccer fields, 24 pickleball courts, two 7-on-7 football fields, 32 badminton courts, two party rooms and a rooftop event patio. MQ Field House will offer fitness programming that will be taught by University of Arizona …

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The-Quarry-Fort-Collins-CO
ColoradoDevelopmentMultifamilyWestern

Thompson Thrift Opens 319-Unit Quarry Apartment Community in Fort Collins, Colorado

by Amy Works

FORT COLLINS, COLO. — Thompson Thrift has opened The Quarry, a multifamily property located at 1775 Ashlar Drive near the main campus of Colorado State University in Fort Collins. The first residents began moving into the community in April, and Thompson Thrift expects construction to be completed during first-quarter 2025. Situated on 20 acres, The Quarry offers 319 one-, two- and three-bedroom apartments in three- and four-story buildings, as well as 10 single-family villa structures and detached garages. Units features gourmet bar kitchens with quartz countertops and designer backsplashes, walk-in closets and full-size washers/dryers, as well as private outdoor spaces with fenced yards on select units. Community amenities include a clubhouse, 24-hour fitness center, swimming pool with cabanas, community garden and a fitness trail.

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CivicDevelopmentDistrict of ColumbiaIndustrialMarylandSoutheast

Biden Administration Announces $3B Investment in Port Infrastructure

by John Nelson

WASHINGTON, D.C. — The Biden Administration has announced a $3 billion investment from the Inflation Reduction Act to improve port infrastructure and support an estimated 40,000 “good-paying and union jobs” at 55 ports across 27 states. According to The White House press, U.S. ports employ more than 100,000 union workers. The initiative, named The Clean Ports Program, is headlined by a $147 million investment for the Maryland Port Administration via grants and awards that will support 2,000 jobs, as well as fund the installation of zero-emission equipment, charging infrastructure and power improvements. Biden made the announcement yesterday at the Port of Baltimore, site of the Francis Scott Key Bridge collapse in March. The Clean Ports Program is expected to increase the demand for American manufactured electric cargo handling equipment and eliminate more than 3 million metric tons of carbon pollution over the first 10 years of implementation, which is equivalent to 391,220 homes’ energy use for one year. The program will fund new battery-electric and hydrogen-powered cargo handling equipment, drayage trucks, locomotives and vessels, as well as charging/fueling infrastructure and solar power installation.

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DevelopmentLeasing ActivityMixed-UseRetailSoutheastTennessee

Crunch Fitness Opens at Hamilton Place Mall in Chattanooga

by John Nelson

CHATTANOOGA, TENN. — Crunch Fitness has opened a new location at Hamilton Place, a shopping mall and mixed-use campus in Chattanooga. The property is owned by locally based and publicly traded CBL Properties. The new fitness venue is one of the final components of the mall’s Sears redevelopment project, which commenced in 2019. Other tenants that have backfilled the former Sears department store include The Cheesecake Factory, Mean Mug Coffeehouse, Malone’s, Dave & Buster’s, Dick’s Sporting Goods and an Aloft by Marriott hotel. Since March, CBL Properties has welcomed eight new concepts at Hamilton Place, including Taco Mamacita, Texas Roadhouse, Mr. Cow, Malone’s, Miniso, Vintage Stock, Dry Goods, Shoe Station, as well as a newly remodeled and expanded Buckle store. Additional openings are expected in 2025.

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